SMC (OTCMKTS:SMCAY) Shares Gap Up - Here's What Happened

Key Points

• SMC shares gapped up Monday, opening at $23.55 versus a prior close of $22.40 and last trading at $23.70 on volume of about 73,636 shares (roughly a 4.8% rise).
• Zacks Research recently downgraded SMC from a strong-buy to a hold, and MarketBeat shows the company’s consensus rating as Hold.
• SMC has a market cap of roughly $29.98 billion and a P/E of 27.94, and it beat quarterly EPS estimates ($0.22 vs. $0.19), with analysts forecasting $0.85 EPS for the current fiscal year.

Smc Corporation (OTCMKTS:SMCAY - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $22.40, but opened at $23.55. SMC shares last traded at $23.70, with a volume of 73,636 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut shares of SMC from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold".

SMC Stock Up 4.8%

The company has a 50 day moving average of $21.73 and a two-hundred day moving average of $19.53. The firm has a market cap of $29.98 billion, a P/E ratio of 27.94, a PEG ratio of 3.55 and a beta of 1.01.

SMC (OTCMKTS:SMCAY - Get Free Report) last announced its earnings results on Thursday, February 12th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. SMC had a return on equity of 7.80% and a net margin of 19.41%.The business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $207.25 billion. Research analysts expect that Smc Corporation will post 0.85 earnings per share for the current fiscal year.

SMC Company Profile

SMC Corporation manufactures, processes, and sells automatic control equipment, sintered filters, and various types of filtration equipment worldwide. The company offers air management system, directional control valves, air cylinders, rotatory actuators/air grippers, electric actuators/cylinders, fitting and tubing, and modular F.R.L./pressure control equipment, as well as vacuum, air preparation, and lubrication equipment. It also provides flow control equipment, speed controllers, silencers/exhaust/blow guns/pressure gauges, switches/sensors/controllers, static neutralization equipment, and industrial device communication equipment/wireless system.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.